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Sun Slows Losses Thanks to Strong Storage Sales

Jan 29, 2009, 03:03 (0 Talkback[s])
(Other stories by Paul Shread)

[ Thanks to Paul Shread for this link. ]

"With $700 million to $800 million in annual savings expected to kick in later this year, Sun's cash position should continue to improve, although other IT vendors have said that the first half of the year could be rocky (see EMC Braces for Tough Storage Market).

"Open Storage sales were a bright spot for the company, growing 21 percent in the quarter to reach a $100 million annual run rate, on the strength of the new Sun Storage 7000 product family, codenamed "Amber Road."

"While still just a fraction of the company's overall sales, CEO Jonathan Schwartz said the company has "high expectations going forward" for its Open Storage efforts.""

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